Wise, formerly known as TransferWise, is a London-based financial technology company that specializes in international money transfers and multi-currency accounts. Founded in 2011 by Taavet Hinrikus and Kristo Käärmann, the company uses peer-to-peer technology and the mid-market exchange rate to provide transparent, low-cost currency conversion and remittance services. Its platform enables both consumers and businesses to send money abroad quickly, securely, and at a fraction of traditional banking fees.
The company’s core offering, the Wise multi-currency (or “borderless”) account, allows users to hold and manage balances in multiple currencies simultaneously. Account holders can receive local bank details in major currencies—such as USD, EUR, GBP, and AUD—make direct deposits, and convert funds instantly at the real exchange rate. A linked debit card automatically selects the most favorable currency when making purchases, simplifying spending while traveling or conducting cross-border commerce.
Wise has extended its services beyond individual transfers to support business clients with features tailored for corporate finance. Its business accounts include batch payment tools, API integrations for automated workflows, and real-time expense management capabilities. The company’s network spans over 80 countries and supports more than 50 currencies, enabling customers to transact globally with ease and transparency, all while adhering to robust security standards and local regulatory requirements.
Co-founded by finance industry veterans Taavet Hinrikus and Kristo Käärmann, Wise remains guided by principles of transparency and customer-first innovation. Its leadership team continues to invest in technology enhancements and geographic expansion, seeking to streamline international financial operations and empower a growing global user base with more efficient, cost-effective payment solutions.
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